The magnetic properties of $\gamma \text{-}{\mathrm{Fe}}_2{\mathrm{O}}_3$ ferrimagnetic nanoparticles embedded in a multiblock poly(ether-ester) copolymer have been investigated by static magnetization and ferromagnetic resonance (FMR) measurements at two different dispersion states. Significant variation of the magnetic response is identified below $T\approx 120\mathrm{K}$ , most pronounced in the marked resonance field shift of the FMR spectra, independently of the dispersion state of the nanocomposites. This behavior correlates favorably with the dynamic relaxation of the copolymer, indicating a matrix freezing effect that is attributed to the magnetoelastic coupling of the oxide nanoparticles with the surrounding polymer. At low temperatures, the dc magnetization and FMR measurements vary considerably for the two nanocomposites, indicating essential differences in their ground state, related to the different morphology of the samples and the concomitant variation of interparticle interactions.